Cement News tagged under: PPC
PPC Zimbabwe reports 15-20% volume drop23 March 2020, Published under Cement NewsPPC Zimbabwe has reported a fall of 15-20 per cent in volumes for the 11 months ended February 2020 due to the country’s economic environment, reports the Zimbabwe Mail. However, the company has recorded improved EBITDA margins of 35-38 per cent. Inflationary pressures in the country have increased the cost of inputs as well as decreasing consumer spending. Limited access to foreign currency has also added to the challenges. “Despite the challenging trading conditions in Zimbabwe, includ... |
PPC sees volumes improve and price rises stick19 March 2020, Published under Cement NewsCement-maker PPC said lower levels of capital expenditure has helped offset lower earnings during the 11 months to end-February, with its southern African business starting to show signs of stabilisation even as it continues to face price pressures from increasing exports. The South African coastal business is experiencing a downturn in volumes affected by imports, while inland volumes are showing signs of improvement, the group said in a trading update. It has experienced average price inc... |
PPC joins the WCA as a Corporate Member18 December 2019, Published under Cement NewsThe World Cement Association (WCA) has welcomed PPC as a corporate member. Speaking about PPC's desire to join the WCA, Roland van Wijnen, CEO of PPC said: "We expect that WCA will help us to leverage and expand our existing expertise to achieve best practice in cement operations for the benefit of our customers and to further improve our environmental performance. "Through WCA, we are also looking to connect with the worldwide cement industry and stay up to date with the latest devel... |
PPC's group revenue impacted by Zimbabwe21 November 2019, Published under Cement NewsPPC announced a group revenue of ZAR4.9bn (US$330.1m) and group EBITDA of ZAR868m for the six months ended 30 September 2019. Group revenue was down 12 per cent on results from the six-month period at ZAR5.6bn, which was attributed to a 17 per cent volume decline in group cement volumes. Group EBITDA was also affected by Zimbabwe's currency devaluation and hyperinflation as well as the trading environment in South Africa, plus a one-off restructuring costs of ZAR83m. When excluding PPC Zimb... |
PPC's CFO to step down at the end of the month11 October 2019, Published under Cement NewsSouth Africa’s PPC has announced that its Chief Financial Officer, Tryphosa Ramano, will step down on 31 October after eight years at the company. Ms Ramano has agreed to take on a consultancy role with PPC to ensure continuity. Ronel van Dijk has been appointed as interim CFO and as an executive director. The news follows Roland van Wijnen taking over as CEO of PPC at the start of this month. |
PPC Zimbabwe's cement sales volumes fall by 25%04 September 2019, Published under Cement NewsPPC Cement's Zimbabwean cement sales volume contracted by 25-30 per cent in the four months ended 30 June 2019. The country has been hit by fuel and electricity shortages and other economic pressures. "Overall cement sales volumes contracted by between 25-30 per cent due to a weaker economic climate. Cement pricing, which was aligned with input cost inflation, was higher than the previous comparable period," PPC said. "Trading conditions in Zimbabwe remain challenging, due to liquidit... |
PPC releases operational update for the 4MFY2030 August 2019, Published under Cement NewsSouth Africa's PPC has released an operational update for the four months to 30 July, noting a 5-10 per cent increase in group EBITDA due to positive price momentum in South Africa and cost optimisation initiatives. Average cement prices in its southern Africa region (including Botswana) rose 7-8 per cent in the period, however cement sales declined 10-15 per cent YoY on the back of a decrease in domestic demand. The company noted that importer and blender activity contributed to the comp... |
Dangote Cement28 August 2019, Published under Cement NewsDangote Cement is among five companies calling for an investigation into cement imports into South Africa. According to The Concrete Institute (ITC), imports have risen by 139 per cent since 2016. In the 2Q19, 350,441t of cement arrived in South Africa, the highest level since the 3Q15. Imports from Vietnam alone totalled 301,872t. Most of the cement imports come through Durban, which handled 260,909t in the second quarter of this year, marking an 85 per cent increase on the 1Q19. On beha... |
Government extends deadline for Cimerwa stake18 July 2019, Published under Cement NewsThe Government of Rwanda has moved the deadline to sell its stake in Cimerwa from 5 to 19 July, with the extension providing a chance for more individual investors and companies to submit a proposal, according to the Rwanda Development Board. The government and its affiliates hold a 49 per cent stake in the company, while South Africa’s PPC is the majority shareholder at 51 per cent. The Rwandan government had initially given PPC an opportunity to buy the remaining shares . According to... |
PPC reports revenues of ZAR10.4bn in FY1901 July 2019, Published under Cement NewsPPC has reported revenue up one per cent in the FY19 ended 31 March, rising to ZAR10.4bn (US$772.7m), while EBITDA increased four per cent to ZAR1.9bn. PPC's overall cement volumes rose by one per cent to 5.9Mt. South Africa's cement market (including Botswana) as a whole saw a decline of 2-3 per cent in sales but the inland market remains competitive, according to the company. The coastal markets were impacted by increased imports which rose by 84 per cent in 2018 to 1Mt. Production cost... |